Keefe, Bruyette & Woods Raises Third Coast Bancshares (NASDAQ:TCBX) Price Target to $45.00

Third Coast Bancshares (NASDAQ:TCBX) had its price objective raised by analysts at Keefe, Bruyette & Woods from $43.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 11.54% from the stock’s current price.

TCBX has been the subject of a number of other research reports. Zacks Research cut shares of Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Stephens boosted their price target on Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Third Coast Bancshares presently has a consensus rating of “Hold” and an average target price of $45.50.

Third Coast Bancshares Trading Down 4.7%

TCBX opened at $40.35 on Monday. The stock’s fifty day simple moving average is $38.73 and its 200 day simple moving average is $38.33. Third Coast Bancshares has a 1-year low of $25.17 and a 1-year high of $42.63. The stock has a market cap of $560.57 million, a PE ratio of 12.34 and a beta of 0.37.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 EPS for the quarter. The firm had revenue of $54.48 million during the quarter. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. Equities analysts forecast that Third Coast Bancshares will post 3.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director W. Donald Brunson sold 1,500 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $38.55, for a total transaction of $57,825.00. Following the completion of the sale, the director directly owned 37,268 shares in the company, valued at $1,436,681.40. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its stake in Third Coast Bancshares by 37.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock valued at $43,000 after purchasing an additional 356 shares in the last quarter. CWM LLC grew its stake in shares of Third Coast Bancshares by 25.4% in the 3rd quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after buying an additional 498 shares during the period. First Trust Advisors LP increased its position in Third Coast Bancshares by 7.5% in the 2nd quarter. First Trust Advisors LP now owns 8,873 shares of the company’s stock valued at $290,000 after buying an additional 616 shares in the last quarter. Quantinno Capital Management LP increased its position in Third Coast Bancshares by 3.7% in the 2nd quarter. Quantinno Capital Management LP now owns 20,057 shares of the company’s stock valued at $655,000 after buying an additional 708 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Third Coast Bancshares during the 3rd quarter worth approximately $31,000. 36.88% of the stock is owned by institutional investors.

About Third Coast Bancshares

Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include checking, savings, individual retirement, and money market accounts, as well as certificates of deposit. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.